Chico Business Formation Attorney
Are you starting a business? Do it right.
There are many things to consider when forming a
business. Most people want to start a business so they can make a living, maybe
even a very good living, while being their own boss and doing something
they know and love. That makes it even more important to start out on
the right foot and make sure that it is done correctly. Careful planning
in the beginning enhances the success potential of your new business.
Without it, your business could possibly be excessively taxed, or you
could lose certain benefits that could have been available. No doubt you
have a lot on the line, and this is a critical turning point for you.
A business attorney in Chico is your partner in setting up your business
with all legal details firmly in place.
Sole Proprietorship, Corporation, Partnership, LLC
What sort of matters needs to be addressed when forming a new business?
Probably the first issue is deciding on the legal form your new enterprise
will take. This will have an effect on your taxes, liabilities, and how
you go about any financing. Do you want a Sole proprietorship, Partnership,
If you want Sole proprietorship, then you will take on the responsibilities
of reporting income and expenses on your own tax returns.
If you want a Partnership, then you will need to decide about whether it's
a general or limited partnership. These differ from each other by how
much risk is assumed by each partner. A business lawyer would be instrumental
in drafting an agreement, which details every aspect of each partner's
role and level of responsibility. This is crucial in heading off any future
problems if there are disputes. Sometimes a partner decides to leave the
company. A well-drafted agreement will take this into account so that
the company does not disintegrate when a partner leaves.
If you decide to form a corporation, you will in effect remove, or at least
limit, yourself from personal liability where there are debts and other
business risks involved.
There are other matters to consider as well. A business name will need
to be decided upon and then reserved, with all the appropriate paperwork
completed accurately and filed. There are additional documents that need
to be drafted, such as operating agreements, employee contracts, and bylaws.
If you have shareholders, you will need shareholder agreements as well
as stock and membership certificates being issued. Additionally, if there
are any licenses to be issued, this will need to be addressed. You will
also need to handle any insurance matters and how you will comply and
report with any regulatory requirements. These are more reasons why you
need to consult a knowledgeable business attorney who knows exactly what's
needed and can perform these duties in a timely manner.
At The Law Office of Nikki Farris in Chico, CA, we understand all that
is involved when you wish to start a business. There are many bright opportunities
to look forward to, and you don't want your future to be marred by
errors caused by inexperience or unforeseen circumstances, especially
those that could have been prevented. Our attorneys have extensive experience
with business law in helping you pave the smoothest road for your business
venture. We know how to guide you in deciding on the best form your new
business should take. Making the right decisions for your particular enterprise
will set the foundation for success. We want to you succeed, so we work
hard to help you organize your business in order to obtain the best chance
of future prosperity.